ING RE announced on Monday that it has acquired the Warande shopping centre in Beveren, Belgium for about EUR 38 mln. The Warande project is located in the centre of Beveren, near Antwerp and is a 10,000 m[sup]2[/sup] mixed-use, inner-city project including retail and residential units as well as 269 parking spaces. About two-thirds of the available retail area has been let, and main tenants include Torfs, JBC, Esprit and H&M.
ING RE announced on Monday that it has acquired the Warande shopping centre in Beveren, Belgium for about EUR 38 mln. The Warande project is located in the centre of Beveren, near Antwerp and is a 10,000 m2 mixed-use, inner-city project including retail and residential units as well as 269 parking spaces. About two-thirds of the available retail area has been let, and main tenants include Torfs, JBC, Esprit and H&M.
The property was bought on behalf of ING Insurance and is currently under development by Heijmans Vastgoed with the opening scheduled for the first half of 2009.
'This new retail development is ideally located in an area that is characterized by an above-average household income, a growing population and a lack of retail supply,' said Will Rowson, head of European acquisitions at ING Real Estate Investment Management.
